australia taxation law, Taxation

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Janet (taxpayer) residing in Australia is named as the sole beneficiary of a
property (1.85 hectares) with a large homestead as a result of the death
of a relative on 7/10/2010. The property is not used for commercial
purposes and at the date of death, the property was valued at
$1.45million. Settlement took place on 21/12/2010.

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